The economy of Puerto Rico could receive an injection of up to $600 million over the next 10 years thanks to the Zonas de Oportunidades program, a project devised by the federal Treasury Department.
The figure estimated by the secretary of the government, Raul Maldonado, is closely related to the investment willingness of private entrepreneurs in the United States and at the local level through this law, which also applies to other states and their territories.
“The Zones of Opportunities program is the most important economic development tool in the next decade in Puerto Rico,” said Maldonado, who told Metro that during this week he will be making a second presentation to Wall Street executives to highlight the other reliefs. contributory taxes already existing in the island and that can be complemented with this law.
Through this federal initiative, investors may defer the payment of their contributions for capital gains, as long as the profits are destined to economic development projects in the zones of opportunity.
“The whole island is designated as a zone of opportunity. We are going to give the same benefits to the local and abroad, “said Maldonado about the initiative that offers tax incentives for investors for a period of five, seven or 10 years, if they continue directing their capital gains in the areas of opportunity.